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Agreement Between BlinkS and Finance Evolution on Software for NPE Data

A new agreement was signed between the company Finance Evolution and Prelios Innovation, to integrate Finance Evolution’s Panda software, aimed at banks, companies, and financial intermediaries and guarantee consortia, into BlinkS, the digital platform developed by Prelios Group for the trading of impaired loans, in order to enable the automatic feeding of the standard data tape of BlinkS.

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Finance Evolution, part of Lutech Group, a leading company in Italy in ICT services and solutions, controlled since last spring by Apax Partners, and Prelios Innovation, a Prelios Group fintech company, have signed an agreement to integrate Finance Evolution’s Panda software, aimed at banks, companies, and financial intermediaries and guarantee consortia, into BlinkS, the digital platform developed by Prelios Group for the trading of impaired loans, in order to enable the automatic feeding of the standard data tape of BlinkS.

Panda is a financial management software based on a web platform entirely realized with microservices architecture, which fully manages the typical processes and compliance of an “ex-intermediary 106”, whether it is a provider of loans, guarantees, or other financial services. The solution is aimed both at traditional operators (banks, companies, and financial intermediaries) and at new interlocutors that carry out financial activities with different roles (master servicer, special servicer, credit funds). The technology adopted makes it possible to contain both development and maintenance costs, guaranteeing the speed of development that is fundamental for this market.

Willy Burkhardt, CEO of Finance Evolution, commented: “The integration of BlinkS, developed by Prelios Innovation, with the Finance Evolution platform is just the first step to allow all our banking and financial customers to sell or buy in the future, in a structured and continuous way, UTP and NPL also factoring, leasing and consumer credit”.

Gabriella Breno, CEO of Prelios Innovation, added: “We are particularly pleased with this development that allows us to further expand the collaboration relationship with Finance Evolution. BlinkS allows us to speed up and simplify the processes of disposal of non-performing loans and the result achieved with Finance Evolution confirms the commitment we have made: to support the entire financial system in transforming the sales from extraordinary operations to ‘routine’ operations, thanks to continuous technological and process innovations.”

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Read more about the agreement between BlinkS and Finance Evolution, and read the latest financial news with the Born2Invest mobile app.

The latest is the one with Banco Desio at the end of May. Previously, other agreements were signed with Unirec (National Union of Credit Protection Enterprises); with IBL Banca, the parent company of the IBL Banca Banking Group, a leader in the sector of loans through the assignment of one-fifth of salary or pension; and with Centrale Credit Solutions, company of the Cassa Centrale Banca – Credito Cooperativo Italiano group, specialized in the structuring of assignment and securitization operations of impaired loans on behalf of the banks belonging to the group.

Last March Prelios Innovation launched BlinkS Network Partners, the first example in Europe of a supply chain expressly dedicated to the management of impaired loans. BlinkS Network Partners will be able to offer to the users of the platform their products and services such as real estate valuations, both AVM (Automatic Real Estate Valuation) and traditional, data remediation, senior financing, servicing, digital signature. This will expand the possibilities of matching supply and demand also for ancillary services to the sale of credits, making the processes of analysis and sale of credits and portfolio management even more fluid, and thus further encouraging the development of the primary and secondary NPE market.

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(Featured image by StockSnap via Pixabay)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.